MONROE - The board of directors for Monroe Downtown Business Improvement District (BID) opted to levy $37,500 for 2015 - the same amount as in 2014 - when it passed a budget Thursday.
BID's taxing boundaries mirror the city's Tax Increment District No. 7 boundaries in downtown Monroe, and its tax revenue goes mainly for the support of the city's Main Street program.
BID will provide Main Street Monroe with $32,500 next year, distributed in quarterly payments, and retain $5,000 to cover anticipated costs for parking ramp improvements and for planning redevelopment of the ramp.
Board members debated whether to continue raising the additional $5,000 for the ramp, to increase financial support to Main Street Monroe, or to cut the extra levy amount in half, partly in light of BID's financial report, which showed the organization fund balance will be more than $10,000 by the end of the year. BID started 2014 with a fund balance of $7,500.
Ryan Wilson, a board member of Main Street Monroe and BID, reported MSM had submitted its budget of about $130,000 to the city, and had a 2014 ending fund balance of about $12,000. Wilson also assured BID that the MSM board was actively looking for a new director to replace Amy Brandt, who stepped down from the position in September. He said the MSM board would like to have a new director in place by the first of the year.
While some BID board members stated that it was not BID's business to tell MSM what to do, others maintained that part of BID's agreement to provide financial support included a qualified director for the organization.
MSM will also receive about $25,000 directly from the city. Volunteers, the director and board members are expected to raise the remaining needed funds.
MSM, staffed mostly by volunteers, creates and hosts many of the downtown's festivities, including Concerts on the Square, Cars on the Square and promotional themes, such as Farmin' on the Square, which are intended to generate publicity and entice visitors to the city's downtown businesses. The organization also enters into some downtown real estate development, business recruitment and retention, and public improvements.
At the same meeting, board members recommended Craig Patchen as a new member to their board, and Barb Gilbach, Ryan Wilson and Ron Markham as returning members. Monroe City Mayor Bill Ross makes those appointments for two-year terms. Dr. David Riese is resigning as a BID board member.
The board also voted 6-3 to appoint Luis Carus as their board member representative on the MSM board. It is a one-year term.
BID's next meeting was set for Jan. 15, 2015.
BID's taxing boundaries mirror the city's Tax Increment District No. 7 boundaries in downtown Monroe, and its tax revenue goes mainly for the support of the city's Main Street program.
BID will provide Main Street Monroe with $32,500 next year, distributed in quarterly payments, and retain $5,000 to cover anticipated costs for parking ramp improvements and for planning redevelopment of the ramp.
Board members debated whether to continue raising the additional $5,000 for the ramp, to increase financial support to Main Street Monroe, or to cut the extra levy amount in half, partly in light of BID's financial report, which showed the organization fund balance will be more than $10,000 by the end of the year. BID started 2014 with a fund balance of $7,500.
Ryan Wilson, a board member of Main Street Monroe and BID, reported MSM had submitted its budget of about $130,000 to the city, and had a 2014 ending fund balance of about $12,000. Wilson also assured BID that the MSM board was actively looking for a new director to replace Amy Brandt, who stepped down from the position in September. He said the MSM board would like to have a new director in place by the first of the year.
While some BID board members stated that it was not BID's business to tell MSM what to do, others maintained that part of BID's agreement to provide financial support included a qualified director for the organization.
MSM will also receive about $25,000 directly from the city. Volunteers, the director and board members are expected to raise the remaining needed funds.
MSM, staffed mostly by volunteers, creates and hosts many of the downtown's festivities, including Concerts on the Square, Cars on the Square and promotional themes, such as Farmin' on the Square, which are intended to generate publicity and entice visitors to the city's downtown businesses. The organization also enters into some downtown real estate development, business recruitment and retention, and public improvements.
At the same meeting, board members recommended Craig Patchen as a new member to their board, and Barb Gilbach, Ryan Wilson and Ron Markham as returning members. Monroe City Mayor Bill Ross makes those appointments for two-year terms. Dr. David Riese is resigning as a BID board member.
The board also voted 6-3 to appoint Luis Carus as their board member representative on the MSM board. It is a one-year term.
BID's next meeting was set for Jan. 15, 2015.